dont know how effective it is, as NSEINDIA updates open interest every 3 minutes (correct me if i am wrong). so if you use these kind of studies in first or last 10-15mins to get the edge, you get the picture which is running 3 minutes late. in fact for BTST/STBT its even riskier to take positions. the concept is good and used where open interest is updated on RT basis just like in mcx or other foreign exchanges!

also, irrespective of time during trading hours, multiple position adjustments in fno/cash along with cross exchange trades take place. so i was wondering the viability of this study!

Nse updates open interest 3 minutes right … but what we need to look out for are spikes in price and volume… as for oi you should generally lookout for a rising or falling trend and it’s relative levels during that session which helps in confirming a long or short buildup.
Also no concept is full proof and you must use your discretion in taking a call. Best is to paper trade with these fundas for some data and fine tune your own timings and strategies until you’re confident yourself 🙂